Sensus Healthcare (SRTS) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue was $2.3 million, down 68.5% year-over-year, mainly due to delayed recognition of 8 units and fewer sales to a historically large customer; these units' revenue will be recognized in Q3.

• Commercial momentum increased, with a stronger pipeline and broader customer engagement, especially among larger physician groups, health systems, and international markets.

• International interest, particularly in Asia-Pacific and Australia, is growing, with disciplined expansion planned and active website users up 153% year-over-year.

• Management remains focused on five priorities: education, customer adoption, recurring revenue, commercial reach, and profitability, aiming for a strong second half of 2026.

• Net loss for Q2 2026 was $8.7 million ($0.53/share), compared to $1.0 million ($0.06/share) in Q2 2025, driven by lower sales and a $5.7 million valuation allowance against deferred tax assets.

Financial highlights

• 11 units sold in Q2 2026 (including Fair Deal Agreements and rentals), compared to 19 units in Q2 2025.

• Gross profit was $0.8 million (34.8% margin), down from $2.9 million (39.7% margin) in Q2 2025, impacted by product mix and higher international shipments.

• Adjusted EBITDA was -$3 million, down from -$1.8 million year-over-year.

• Cash, restricted cash, and equivalents totaled $15.2 million at June 30, 2026, with no outstanding borrowings.

• Six-month revenue was $5.7 million, down 63.7% from $15.7 million in the prior year period.

Outlook and guidance

• Revenue from 8 delayed units will be recognized in Q3, supporting expectations for a stronger second half.

• Management anticipates sequential unit growth in Q3 and Q4, targeting 20+ units per quarter and converting a robust pipeline into revenue.

• CMS proposed a 26% increase in the hospital-based SRT delivery code, which could improve provider economics and adoption.

• Current cash and equivalents are expected to meet operating and capital requirements for the next 12 months.

• Inflationary pressures and financial market instability are being monitored.